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of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
GERMAN DATA
MNI (London)
GERMANY FEB IND PROD -1.6% M/M, -6.4% Y/Y; JAN -2.0% M/M
- German industrial production declined by 1.6% in Feb, in contrast to markets looking for a rebound after Jan's decline (BBG: +1.5%).
- This marked a second successive decrease following eight consecutive months of increases.
- Jan's reading was revised up to -2.0% from -2.5% reported previously.
- Annual production fell by 6.4%, indicating that IP was lower than before the pandemic hit.
- While the production of consumer goods increased by 0.2%, output of capital and intermediate goods declined by 3.2% and 1.0%, respectively.
- Energy output fell by 1.0% in Feb, while construction output declined by 1.3%.
- Nevertheless, survey evidence continues to signal strong business activity growth in the manufacturing sector with the manufacturing PMI surging to a record high in Mar.
- The truck toll mileage index, which is closely connected to industrial production, fell further in February, but data published today showed an increase by 4.7% in Mar, which bodes well with IP going forward.
MNI London Bureau | +44 203-865-3814 | irene.prihoda@marketnews.com
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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